Betable primes for new funding round, valued up to $100 million

Real money gaming platform Betable has raised a new round of funding as reported by PandoDaily. Led by Venture51, the round is expected to be around $15 to $20 million valuing the company at either $80 or $100 million.

Betable did not start as a real money gaming platform, but instead started as a gambling stock exchange. The company offered its investors to cash out during this restructuring with Atomic Ventures choosing not to reinvest. Betable does not develop games itself, but instead handles processing, legality and compliance of real money gambling in depending on where the gamer is located.

The valuation may come at a surprise to some investors because of the fact that Betable is not completely legal in the U.S.